Two bit Idiot on bitcoin as commodity
http://two-bit-idiot.tumblr.com/post/98816261249/btc-isnt-a-currency
http://two-bit-idiot.tumblr.com/post/98816261249/btc-isnt-a-currency
that's a joke. i've been railing on him about that.
Topic: Gold collapsing. Bitcoin UP. - page 899. (Read 2032266 times)
that's a joke. i've been railing on him about that.
Two bit Idiot on bitcoin as commodity
http://two-bit-idiot.tumblr.com/post/98816261249/btc-isnt-a-currency
http://two-bit-idiot.tumblr.com/post/98816261249/btc-isnt-a-currency
...
* Rewards points are ~1%.
* Using bitcoin at gyft.com gives you 3%.
Winner: BITCOIN.
* Rewards points are ~1%.
* Using bitcoin at gyft.com gives you 3%.
Winner: BITCOIN.
And how many percent did Bitcoin fall JUST TODAY?
You need a hand with the math?
I plan on living about 100 years, so looking at the daily ups/downs of any of my assets is just noise. My USD holdings drop several percentage points virtually every single year. For my bitcoin holdings, 2010, 2011, 2012, and 2013 have been amazing years. 2014 is an outlier. Talk to me again in 2024 and we'll compare USD to BTC.
If you believe it and hold gold but want to stay in the precious metal game, you sell the gold for silver.
The silver gold ratio is higher than most any time in history, and this would be a good time to take advantage. If PM prices go up, silver will be expected to go up more by %.
Or you could just buy bitcoin.
Silver is not gold. How much silver do central banks hold?The silver gold ratio is higher than most any time in history, and this would be a good time to take advantage. If PM prices go up, silver will be expected to go up more by %.
Or you could just buy bitcoin.
FNG, you are making NL's point for him.
Silver is at a ridiculous 70:1 ratio vs gold precisely because it has been completely (while gold has only been partially) demonetized.
When silver is re-monetized, and central banks revert to the norm of buying/holding it in their reserves, the ratio will fall towards the historic average of 16:1.
The Canadian Mint has some very cool new 10oz bars with anti-counterfeiting features. I'm sorely tempted to buy some, but I know Dr. Cypher would never forgive me!
Cypher is a forgiving person and having all your eggs in one virtual basket is always risky.
I read a quote from Eric Sprott the other day that silver from a mine delivered costs $22-25 per oz, with some caveats like recycled silver and silver produced as a by-product of other mines. I'm guessing gold is in a similar situation. Physical PM sales in September were double that of previous months and the sales came from existing stock because the production of coins at places like the US mint is below current demand. But in the PM arena physical demand/supply has no bearing on the paper price. Apple purportedly makes 20-30% profit on each iphone. If they were taking a 20% loss per unit then either Apple would go broke or they would have to raise the price. It would be logical to think that PM miners will need higher prices or face going broke but logic also doesn't play a huge part in financial markets these days. Either way, you could make a reasonable case for silver right now imo.
If you believe it and hold gold but want to stay in the precious metal game, you sell the gold for silver.
The silver gold ratio is higher than most any time in history, and this would be a good time to take advantage. If PM prices go up, silver will be expected to go up more by %.
Or you could just buy bitcoin.
Silver is not gold. How much silver do central banks hold?The silver gold ratio is higher than most any time in history, and this would be a good time to take advantage. If PM prices go up, silver will be expected to go up more by %.
Or you could just buy bitcoin.
FNG, you are making NL's point for him.
Silver is at a ridiculous 70:1 ratio vs gold precisely because it has been completely (while gold has only been partially) demonetized.
When silver is re-monetized, and central banks revert to the norm of buying/holding it in their reserves, the ratio will fall towards the historic average of 16:1.
The Canadian Mint has some very cool new 10oz bars with anti-counterfeiting features. I'm sorely tempted to buy some, but I know Dr. Cypher would never forgive me!
Can anyone speculate as to what has been up with all the dumping? Where are all these coins coming from?
this for one. i just hope these derivatives exchanges aren't allowing naked shorting:
To be fair 11k is nothing compared to the entire float.
I had not yet come across Bitcoin in 2011, but imagine it's starting to feel a lot like it did in late 2011.
Can anyone speculate as to what has been up with all the dumping? Where are all these coins coming from?
this for one. i just hope these derivatives exchanges aren't allowing naked shorting:
Can anyone speculate as to what has been up with all the dumping? Where are all these coins coming from?
Get ready for the oncoming storm, BTC is about to sky rocket, will hit $5k in 2015 (I'm serious)
While I would give it low single digit percent chance of ever materializing there is still time before the storm.
Hence the ---->
Telegraph UK article - Bitcoin wil become the new gold
http://www.telegraph.co.uk/technology/news/11138581/Bitcoin-will-become-the-new-gold.html
http://www.telegraph.co.uk/technology/news/11138581/Bitcoin-will-become-the-new-gold.html
Quote from: article
While Bitcoin has issued $6bn worth of currency since it launched five years ago...
Get ready for the oncoming storm, BTC is about to sky rocket, will hit $5k in 2015 (I'm serious)
Fear of the unknown drivers the herd. Ebola is a new fear catalyst, while health care workers take precarious to avoid infection at one stage 10% of those infected were health care workers.
Now take a currency note infect it with Ebola (or just promote the idea that it could be) put it in the wild (the economy) and tell people to pass it around (or let them know if they do they will be at risk of Ebola)
Then come in with a solution. See The benefits of getting rid of cash: http://youtu.be/BZW3s9-9Hgg -
Two take aways
1. The abolishing of cash address the fear of Ebola epidemic speeding from person to person (dirty flat)
2. Negative interest enables the central planned economy total control.
The next thing to go to the moon will be Bitcoin and alts.
If the scenario above plays out the storm to hit Bitcoin will be unreal.
While I would give it low single digit percent chance of ever materializing there is still time before the storm.
despite the bounce in the Dow today, yesterday should count as the short term bottom for this cycle. the real question is how high this bounce can go? we'll still get a weekly/intermediate term sell signal by the end of the day today. right now, this is the most interesting chart for me, as it will tell us whether or not the US has managed to pull off the impossible; permanent Nirvana based on money printing. i still seriously doubt the thesis that the stock mkt can keep going up forever in the face of a rising USD. most of the USD's pumped into it represent debt and no leveraged trader wants their USD debt value increasing at the same time their stocks rise. i expect the Dow bounce to fail to exceed the high of 17350, or even if it does get over the top it will be temporary. we'll see. this is the greatest stock bull mkt of all time.
Bull is just too strong.. .look for a sell the top on usdx (short term) and buy equities like no tomorrow. The USDX top (gold bottom) has been hinted at during asian session few nights ago... ofcourse smart money always knows ahead of time what the news is.
Get ready for the oncoming storm, BTC is about to sky rocket, will hit $5k in 2015 (I'm serious)
Bitcoin is art, check this out:
http://www.ft.com/cms/s/2/933b4e62-f824-11df-8875-00144feab49a.html#axzz3F45k5w30
http://www.ft.com/cms/s/2/933b4e62-f824-11df-8875-00144feab49a.html#axzz3F45k5w30
Well .... art is overvalued. Especially those artworks made by the most famous of artists. I'll take a double spend (copy
any day.I don't want a copy of a Bitcoin
All in all art is always appropriately priced, it depends on ones disposable income and value system.
Since gold rises when the world goes to war, I'm still bullish on gold in the 10 year time frame. There is a lot of political instability today. That hurts fiat and increases the likelihood of conflict.
"Smithers, war has broken out. Begin hoarding and profiteering!"
-Mr. Burns
"Smithers, war has broken out. Begin hoarding and profiteering!"
-Mr. Burns
Get ready for the oncoming storm, BTC is about to sky rocket, will hit $5k in 2015 (I'm serious)
despite the bounce in the Dow today, yesterday should count as the short term bottom for this cycle. the real question is how high this bounce can go? we'll still get a weekly/intermediate term sell signal by the end of the day today. right now, this is the most interesting chart for me, as it will tell us whether or not the US has managed to pull off the impossible; permanent Nirvana based on money printing. i still seriously doubt the thesis that the stock mkt can keep going up forever in the face of a rising USD. most of the USD's pumped into it represent debt and no leveraged trader wants their USD debt value increasing at the same time their stocks rise. i expect the Dow bounce to fail to exceed the high of 17350, or even if it does get over the top it will be temporary. we'll see. this is the greatest stock bull mkt of all time.
Telegraph UK article - Bitcoin wil become the new gold
http://www.telegraph.co.uk/technology/news/11138581/Bitcoin-will-become-the-new-gold.html
http://www.telegraph.co.uk/technology/news/11138581/Bitcoin-will-become-the-new-gold.html
beat me too it.
yeah, it should happen.
Telegraph UK article - Bitcoin wil become the new gold
http://www.telegraph.co.uk/technology/news/11138581/Bitcoin-will-become-the-new-gold.html
http://www.telegraph.co.uk/technology/news/11138581/Bitcoin-will-become-the-new-gold.html
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